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Continued Tick Lower

AUSSIE BONDS

The uptick in oil/weakness in U.S. Tsys seemingly continues to drive price action in Aussie bonds, leaving YM -4.0 and XM -5.5 at typing, with the latter threatening a break of its overnight lows. XM bears now target the nearby July 6 low (98.495), with any break there set to expose the June 17 low (98.320). The latest round of weakness in the space has also triggered some selling of IRZ1, with 15K lots of that contract given at 99.96 in recent dealing.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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